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There's a way for you to support NOVA Foundation and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
With a charitable gift annuity you agree to make a gift to NOVA Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support our work.
This type of donation can provide you with regular payments for life and allow NOVA Foundation to further our mission. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction if you itemize.
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.
Dennis, 66, and Mary, 65, want to make a contribution to NOVA Foundation but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 4.3%, which means that they will receive $860 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $5,414* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on a 2.4% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Input a few details and see how a charitable gift annuity can benefit you.
Legal name: Northern Virginia Community College Educational Foundation
Address: 4001 Wakefield Chapel Road, Annandale, VA 22003
Federal tax ID number: 51-0249730
Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.View My Guide